5. Other commitments primarily relate to contracts for operational expenses.

6. Commitments are GST inclusive where relevant.

Operating leases included are effectively non-cancellable and comprise of:

Schedule of Commitments

As at 30 June 2015

Nature of lease

General description of leasing arrangement

Leases for accommodation

Commercial — leases comprise of various periods, including both initial and options periods.

Overseas estate — some commercial lease payments are adjusted annually by two per cent and residential lease payments are reviewed bi-annually to reflect market movements.

The initial periods of office accommodation leases are still current and each may be renewed with options for a further three or five years.

Leases for office equipment

The lessor provides all photocopier equipment designated as necessary in the supply contract for four years with an option to extend the term for a fixed period as agreed by both parties.

Administered Schedule of Comprehensive Income

For the period ended 30 June 2015

Notes

2015
$’000

2014
$’000

NET COST OF SERVICES

Expenses

Grants

17A

83,746,819

93,200,198

Interest

3,427

4,688

Write-down and impairment of assets

–

150,000

Foreign Exchange Losses

17B

–

420,777

Suppliers1

27,666

540

Total expenses

83,777,912

93,776,203

Income

Revenue

Non-taxation revenue

Interest

18A

3,166

3,303

Dividends

18B

1,941,500

1,310,000

Sale of goods and rendering of services

18C

726,299

990,065

COAG revenue from government agencies

18D

993,379

1,798,099

Other

18E

154,189

83,637

Total non-taxation revenue

3,818,533

4,185,104

Total revenue

3,818,533

4,185,104

Gains

Foreign exchange

18F

36,629

–

Total gains

36,629

–

Total income

3,855,162

4,185,104

Net cost of (contribution by) services

(79,922,750)

(89,591,099)

Surplus (Deficit)

(79,922,750)

(89,591,099)

OTHER COMPREHENSIVE INCOME

Items not subject to subsequent reclassification to net cost of services

Changes in asset revaluation surplus

5,574,357

9,663,872

Total comprehensive income

5,574,357

9,663,872

Total comprehensive income/(loss)

(74,348,393)

(79,927,227)

This schedule should be read in conjunction with the accompanying notes.

1. Suppliers expenses for 2015 include the community engagement campaign on Australia’s economic challenges.

Administered Schedule of Assets and Liabilities

As at 30 June 2015

Notes

2015
$’000

2014
$’000

ASSETS

Financial assets

Cash and cash equivalents

–

1,412

Trade and other receivables

20A

3,406,908

2,424,492

Investments

20B

32,565,700

26,277,406

Total financial assets

35,972,608

28,703,310

Non-financial assets

Other

411

462

Total non-financial assets

411

462

Total assets administered on behalf of government

35,973,019

28,703,772

LIABILITIES

Payables

Grants

21A

599,925

636,399

Other payables

21B

5,642,592

5,055,217

Unearned income

21C

77,019

136,235

Total payables

6,319,536

5,827,851

Interest bearing liabilities

Loans

22A

4,824,704

3,903,540

Total interest bearing liabilities

4,824,704

3,903,540

Provisions

Other provisions

23A

1,816,251

3,583,296

Total provisions

1,816,251

3,583,296

Total liabilities administered on behalf of government

12,960,491

13,314,687

Net assets

23,012,528

15,389,085

This schedule should be read in conjunction with the accompanying notes.

Administered Reconciliation Schedule

For the period ended 30 June 2015

2015
$’000

2014
$’000

Opening assets less liabilities as at 1 July

15,389,085

3,115,348

Net (cost of)/contribution by services

Income

3,855,162

4,185,104

Expenses

Payments to entities other than corporate Commonwealth entities1

(83,777,912)

(84,968,203)

Payments to corporate Commonwealth entities

–

(8,808,000)

Other comprehensive income

Revaluations transferred to reserves

5,574,357

9,663,872

Transfers to/from Australian Government:

Appropriation transfers from OPA:

Administered assets and liabilities appropriations

20

25,784

Annual appropriation for administered expenses

Payments to entities other than corporate Commonwealth entities

72,233

4,528

Payments to corporate Commonwealth entities

–

8,808,000

Special appropriations (limited)

Payments to entities other than corporate Commonwealth entities

16,979

16,526

Special appropriations (unlimited)

Payments to entities other than corporate Commonwealth entities

73,350,806

70,571,682

Special accounts — COAG Reform Fund

11,521,643

15,482,471

Refunds of receipts (s77 PGPA)

2,871

–

Appropriation transfers to OPA

Transfers to OPA — Appropriations

(2,942,116)

(2,708,027)

Transfers to OPA — Special Accounts

(50,600)

Restructuring

–

–

Closing assets less liabilities as at 30 June

23,012,528

15,389,085

This schedule should be read in conjunction with the accompanying notes.

1. Includes payments to the States and Territories through the Nation Building Funds. Refer to Note 29E for more information.

Schedule of Administered Cash Flows

For the period ended 30 June 2015

Notes

2015
$’000

2014
$’000

OPERATING ACTIVITIES

Cash received

Sale of goods and rendering of services

55,179

305,151

Interest

1,735

2,180

Dividends

675,255

150,000

Net GST received

–

–

HIH Group liquidation proceeds

92,273

26,257

COAG receipts from government agencies

993,121

1,797,950

Revenue receipts for non-government schools

15,635,076

12,007,975

Other

61,574

64,711

Total cash received

17,514,213

14,354,224

Cash used

Grant payments

84,866,204

94,641,308

Grants to states for non-government schools

15,635,076

12,007,975

Interest

3,787

4,877

Other

23,386

3,200

Total cash used

100,528,453

106,657,360

Net cash from (used by) operating activities

24

(83,014,240)

(92,303,136)

INVESTING ACTIVITIES

Cash received

Repayment of IMF loans

360,317

130,899

IMF Maintenance of Value

698,194

230,772

Repayment of CEFC Capital

50,600

–

Total cash received

1,109,111

361,671

Cash used

Settlement of IMF loans

40,786

209,461

Settlement of IMF Maintenance of Value

38

230,772

Settlement of international financial institution’s obligations

27,295

27,044

Settlement of Loans to States and Territories

–

25,300

Payment to CAC bodies

–

1,131,600

Total cash used

68,119

1,624,177

Net cash from (used by) investing activities

1,040,992

(1,262,506)

Net increase (decrease) in cash held

(81,973,248)

(93,565,642)

Cash and cash equivalents at the beginning of the reporting period

1,412

3,719

Cash from Official Public Account for:

Appropriations

73,442,909

80,788,891

Special Accounts

11,521,643

15,482,471

Total cash from Official Public Account

84,964,552

96,271,362

Cash to Official Public Account for:

Appropriations

2,942,116

2,708,027

Special Accounts

50,600

–

Total cash to Official Public Account

2,992,716

2,708,027

81,973,248

93,567,054

Cash and cash equivalents at the end of the reporting period

–

1,412

This schedule should be read in conjunction with the accompanying notes.

Schedule of Administered Commitments

As at 30 June 2015

2015
$’000

2014
$’000

BY TYPE

Commitments payable

Capital commitments

Investments1

12,555

41,964

Total capital commitments

12,555

41,964

Net commitments by type

12,555

41,964

BY MATURITY

Commitments payable

Capital commitments

Within 1 year

12,555

31,728

Between 1 to 5 years

–

10,236

Total capital commitments

12,555

41,964

Net commitments by maturity

12,555

41,964

This schedule should be read in conjunction with the accompanying notes.

1. The nature of the capital commitments relate to the unpaid instalments of general capital increases in shares of the International Bank for Reconstruction and Development. The total for the comparative also includes commitments relating to the final unpaid instalment of general capital increases in shares of the Asian Development Bank.

2. The Treasury received an exemption from the Finance Minister relating to the commitments for grants payable to the states and territories (for current and comparative years). The budgeted information for payment of grants to the states and territories can be found in Budget Paper No. 3. Refer to Note 1.28 for more information.